Key Points
- CEO Lei Wu sold 20,000 shares on Jan. 22 for $815,600 and has executed multiple insider sales in January, reducing his stake by 2.86% to 678,090 shares valued at about $27.65 million.
- Recent quarterly results beat expectations: GigaCloud reported $0.99 EPS vs. $0.65 expected and revenue of $332.6M (above $300.96M), with a 10.62% net margin and 30.43% ROE.
- The stock trades around $40.51 with a market cap of $1.5B and a P/E of 12.13, yet analysts' consensus is a “Hold” with an average price target of just $24.
GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) CEO Lei Wu sold 1,700 shares of the stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $40.01, for a total transaction of $68,017.00. Following the sale, the chief executive officer directly owned 698,300 shares of the company's stock, valued at approximately $27,938,983. This represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Lei Wu also recently made the following trade(s):
- On Thursday, January 22nd, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $40.78, for a total value of $815,600.00.
- On Wednesday, January 21st, Lei Wu sold 210 shares of GigaCloud Technology stock. The shares were sold at an average price of $40.26, for a total value of $8,454.60.
- On Friday, January 16th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $41.34, for a total value of $826,800.00.
- On Wednesday, January 14th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $40.94, for a total value of $818,800.00.
- On Monday, January 12th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $43.39, for a total value of $867,800.00.
- On Friday, January 9th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $42.08, for a total value of $841,600.00.
- On Wednesday, January 7th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $42.36, for a total value of $847,200.00.
GigaCloud Technology Price Performance
Shares of GCT opened at $40.51 on Friday. The company has a 50-day moving average of $38.79 and a two-hundred day moving average of $31.12. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 12.13 and a beta of 2.28. GigaCloud Technology Inc. has a one year low of $11.17 and a one year high of $44.71.
GigaCloud Technology (NASDAQ:GCT - Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.34. GigaCloud Technology had a net margin of 10.62% and a return on equity of 30.43%. The business had revenue of $332.64 million for the quarter, compared to analyst estimates of $300.96 million. During the same quarter in the previous year, the business earned $1.15 earnings per share. The firm's revenue was up 9.7% compared to the same quarter last year. Analysts anticipate that GigaCloud Technology Inc. will post 3.1 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in shares of GigaCloud Technology by 184.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the company's stock worth $27,000 after purchasing an additional 589 shares in the last quarter. Quarry LP acquired a new position in GigaCloud Technology in the third quarter worth approximately $29,000. Larson Financial Group LLC bought a new position in GigaCloud Technology during the third quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd acquired a new stake in GigaCloud Technology in the third quarter valued at approximately $30,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in GigaCloud Technology in the fourth quarter worth approximately $44,000. 34.94% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
GCT has been the topic of several recent analyst reports. Wall Street Zen raised GigaCloud Technology from a "hold" rating to a "buy" rating in a research report on Saturday, December 13th. Weiss Ratings downgraded GigaCloud Technology from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, January 12th. Finally, Zacks Research cut shares of GigaCloud Technology from a "strong-buy" rating to a "hold" rating in a report on Friday, January 16th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, GigaCloud Technology has an average rating of "Hold" and an average price target of $24.00.
Get Our Latest Report on GigaCloud Technology
GigaCloud Technology Company Profile
(
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GigaCloud Technology Inc (NASDAQ:GCT) is a China-based provider of software-as-a-service (SaaS) and cloud computing solutions tailored for cross-border e-commerce. The company’s core offering, its Supply Chain Embedded E-commerce as a Service (SCEaaS) platform, integrates procurement, order management, warehousing, logistics and payment services into a unified cloud-based system. This end-to-end digital supply chain solution is designed to help small and medium-sized Chinese exporters efficiently connect with global buyers without the need to build and maintain their own infrastructure.
Through its modular, subscription-based SaaS model, GigaCloud enables merchants to scale operations on demand and minimize upfront capital expenditures.
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